Acuity (NYSE:AYI) Given New $410.00 Price Target at Morgan Stanley

Acuity (NYSE:AYI) had its price objective raised by equities researchers at Morgan Stanley from $400.00 to $410.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the electronics maker’s stock. Morgan Stanley’s price target suggests a potential upside of 8.93% from the company’s current price.

Other research analysts have also recently issued reports about the company. Wall Street Zen raised Acuity from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Weiss Ratings raised Acuity from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Wells Fargo & Company decreased their target price on Acuity from $385.00 to $370.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. TD Cowen reaffirmed a “buy” rating on shares of Acuity in a report on Thursday, June 25th. Finally, Oppenheimer set a $465.00 price target on Acuity in a report on Friday. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $397.17.

Acuity Price Performance

Shares of AYI opened at $376.40 on Wednesday. The firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.03 and a beta of 1.31. The firm’s fifty day simple moving average is $301.35 and its 200-day simple moving average is $307.64. Acuity has a twelve month low of $257.04 and a twelve month high of $380.17. The company has a current ratio of 2.05, a quick ratio of 1.47 and a debt-to-equity ratio of 0.24.

Acuity (NYSE:AYI) last issued its earnings results on Thursday, June 25th. The electronics maker reported $5.31 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $0.14. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.18 billion. Acuity had a net margin of 10.25% and a return on equity of 20.26%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.12 earnings per share. Equities analysts forecast that Acuity will post 18.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Maya Leibman acquired 200 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average cost of $288.83 per share, with a total value of $57,766.00. Following the purchase, the director directly owned 400 shares of the company’s stock, valued at approximately $115,532. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura O’shaughnessy purchased 1,000 shares of the stock in a transaction dated Wednesday, April 8th. The stock was acquired at an average price of $282.98 per share, for a total transaction of $282,980.00. Following the completion of the transaction, the director directly owned 3,111 shares of the company’s stock, valued at approximately $880,350.78. The trade was a 47.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Elyxium Wealth LLC acquired a new stake in shares of Acuity in the fourth quarter worth $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Acuity during the fourth quarter worth approximately $27,000. Entrust Financial LLC bought a new stake in shares of Acuity in the fourth quarter worth $27,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Acuity in the 4th quarter valued at about $36,000. Finally, Torren Management LLC acquired a new position in shares of Acuity in the 4th quarter worth approximately $39,000. 98.21% of the stock is currently owned by hedge funds and other institutional investors.

Acuity Company Profile

Acuity Brands, Inc (NYSE: AYI) is a leading provider of lighting fixtures, controls and building management solutions designed for commercial, institutional, industrial and residential markets. The company’s core offerings include a broad range of LED luminaires, lighting controls, sensors and networked building systems that enhance energy efficiency, occupant comfort and operational productivity. Acuity Brands’ portfolio spans indoor and outdoor lighting fixtures, emergency lighting, task lighting and architectural products, as well as advanced controls such as daylight harvesting, occupancy sensing and wireless sensor networks.

Beyond traditional lighting, Acuity Brands delivers integrated digital solutions through its Connected Building platform, which combines smart sensors, cloud-based analytics and mobile applications to enable real-time monitoring and remote management of lighting and environmental systems.